Guideline Value for R.G. NAGAR

R.G. Nagar guideline value

The current guideline value of R.G. Nagar, located in Vengaivasal village under the Selaiyur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of R.G. Nagar has changed

The guideline value for R.G. Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which saw a decrease of 33% to Rs 1,675 per sq.ft in the 2017 revision. Following that, the value increased significantly by 49% to Rs 2,500 per sq.ft in the 2023 revision, and then rose again by 8% to the current Rs 2,700 per sq.ft in the 2024 revision.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 4,800 per sq.ft. The median value across these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of R.G. Nagar.

• Rangarajapuarm: Rs 2,700 per sq.ft (2024)
• Royal Garden: Rs 3,300 per sq.ft (2024)
• Sabari Garden: Rs 1,650 per sq.ft (2024)
• Saminathapuram: Rs 2,700 per sq.ft (2024)
• Santhosapuram: Rs 2,700 per sq.ft (2024)
• Santhosapuram Veeramamunivar Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in R.G. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers R.G. Nagar?

The Sub Registrar Office that covers R.G. Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more information.

How the guideline value is used when you buy or sell in Vengaivasal

The guideline value plays a crucial role in the property registration process in Vengaivasal. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of R.G. Nagar?

The current guideline value of R.G. Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for R.G. Nagar?

The land classification for R.G. Nagar is Mixed Type - II, indicating a variety of permissible land uses in the area.

Where is the Sub Registrar Office for R.G. Nagar located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000.